A firm with Perfect Competition in the Labour Market and Perfect Competition in the Output Market....

 

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A firm with Perfect Competition in the Labour Market and Perfect Competition in the Output Market. (Short Run) You are the manager of a business that faces perfect competition in the output market and perfect competition in the labour market. The production function of the business is given by: Q = 2L 0.50 The price of the product is $400. The wage rate of the workers is $20 a) Find the optimal amount of labour. Problem 2 A firm with Perfect Competition in the Labour Market and Perfect Competition in the Output Market. (Long Run) You are the manager of a business that faces perfect competition in the output market and perfect competition in the labour market. The production function of the business is given by: Q = 8K0.50L0.25. The price of the product is $100. The wage rate is $5 and the price of capital is $10. a) Find the optimal level of labour and capital. Problem 3 A firm with Monopsony in the Labour Market and Perfect Competition in the Output Market. (Short Run) Suppose a Monopsony firm in the labour market faces market supply of labor given by w = 5L. The production function is Q = 20L The firm sells its output in a perfectly competitive market at a price of $20. Determine the profit-maximizing level of labour and wage offered. Problem 4. A firm with Perfect Competition in the Labour Market and Monopoly in the Output Market. (Short Run) You are the manager of a business that operates as a Monopolist in the output market, and it is a Monopsonist in the local labour market. The production function of the business is given by: Q = 4L In the production function, Q is output, L is the number of workers employed. The wage rate is $10. As a Monopolist, the firm faces a market demand given by: P = 400 - 2Q Problem 5. A firm with Monopsony in the Labour Market and Monopoly in the Output Market. (Short Run) You are the manager of a business that operates as a Monopolist in the output market, and it is a Monopsonist in the local labour market. The production function of the business is given by: Q = 2L In the production function, Q is output, L is the number of workers employed. The wage rate is $10. As a Monopolist, the firm faces a market demand given by: P = 100 - Q As a Monopsonist, the firm faces supply of labour given by w = 10L A firm with Perfect Competition in the Labour Market and Perfect Competition in the Output Market. (Short Run) You are the manager of a business that faces perfect competition in the output market and perfect competition in the labour market. The production function of the business is given by: Q = 2L 0.50 The price of the product is $400. The wage rate of the workers is $20 a) Find the optimal amount of labour. Problem 2 A firm with Perfect Competition in the Labour Market and Perfect Competition in the Output Market. (Long Run) You are the manager of a business that faces perfect competition in the output market and perfect competition in the labour market. The production function of the business is given by: Q = 8K0.50L0.25. The price of the product is $100. The wage rate is $5 and the price of capital is $10. a) Find the optimal level of labour and capital. Problem 3 A firm with Monopsony in the Labour Market and Perfect Competition in the Output Market. (Short Run) Suppose a Monopsony firm in the labour market faces market supply of labor given by w = 5L. The production function is Q = 20L The firm sells its output in a perfectly competitive market at a price of $20. Determine the profit-maximizing level of labour and wage offered. Problem 4. A firm with Perfect Competition in the Labour Market and Monopoly in the Output Market. (Short Run) You are the manager of a business that operates as a Monopolist in the output market, and it is a Monopsonist in the local labour market. The production function of the business is given by: Q = 4L In the production function, Q is output, L is the number of workers employed. The wage rate is $10. As a Monopolist, the firm faces a market demand given by: P = 400 - 2Q Problem 5. A firm with Monopsony in the Labour Market and Monopoly in the Output Market. (Short Run) You are the manager of a business that operates as a Monopolist in the output market, and it is a Monopsonist in the local labour market. The production function of the business is given by: Q = 2L In the production function, Q is output, L is the number of workers employed. The wage rate is $10. As a Monopolist, the firm faces a market demand given by: P = 100 - Q As a Monopsonist, the firm faces supply of labour given by w = 10L

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Problem 1 In a business facing perfect competition in the output market and perfect competition in the labor market the optimal amount of labor can be found by setting the marginal product of labor eq... View the full answer